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AP Business SummaryBrief at 11:31 p.m. EST

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Thanksgiving travel rush is back with some new habits

The holiday travel rush is already on, and it could spread out over more days than usual this year. Travel experts say the ability of many people to work remotely is letting them take off early for Thanksgiving or return home later. Crowds are expected to rival those of 2019, the last Thanksgiving before the pandemic. The Transportation Security Administration screened more than 2.6 million travelers on Monday, surpassing the 2.5 million screened the Monday before Thanksgiving in 2019.  AAA predicts that nearly 55 million people in the U.S. will travel at least 50 miles from home this week, an increase over last year and only 2% less than in 2019.

Accountant testifies Trump claimed decade of huge tax losses

NEW YORK (AP) — Donald Trump reported losses on his tax returns every year for a decade, including nearly $700 million in 2009 and $200 million in 2010, his longtime accountant testified Tuesday, confirming long-held suspicions about the former president’s tax practices. Donald Bender, a partner at Mazars USA LLP who spent years preparing Trump’s personal tax returns, said Trump’s reported losses from 2009 to 2018 included net operating losses from some of the many businesses he owns through his Trump Organization. The short exchange amounted to a rare public discussion of Trump’s taxes — which the Republican has fought to keep secret — even if there was no obvious connection to the case at hand. Bender’s testimony echoed The New York Times' reporting on Trump's taxes in 2020.

Taylor Swift ticket trouble could drive political engagement

On the heels of a messy ticket rollout for Taylor Swift’s first tour in years, fans are angry. They’re also energized against Ticketmaster. While researchers agree that there’s no way to tell how long the energy could last, the outrage shows a way for young people to become more politically engaged through fan culture. This isn’t even the first time a fandom or an artist has targeted Ticketmaster. And Swifties say it's not just about getting a ticket. The ticket debacle has spurred broader conversations about economic inequality and political action.

A rail strike looms and impact on US economy could be broad

OMAHA, Neb. (AP) — American consumers and nearly every industry will be affected if freight trains grind to a halt next month. One of the biggest rail unions rejected its deal Monday over concerns about demanding schedules and the lack of paid sick time. The U.S. hasn't seen an extended rail strike in a century. Many businesses only have a few days’ worth of raw materials and space for finished goods. If a strike goes past a few days, makers of food, fuel, cars and chemicals would all feel the squeeze, as would their customers. That’s not to mention the commuters who would be left stranded because many passenger railroads use tracks owned by the freight railroads.

FTX lawyer: 'Substantial amount' of assets has been stolen

NEW YORK (AP) — The lawyers for FTX disclosed Tuesday that a “substantial amount" of assets has been stolen from the accounts of the collapsed cryptocurrency exchange, diminishing the odds that its millions of investors will get their money back. The admission came during FTX’s first court appearance since the company filed for bankruptcy protection on November 11. Such hearings typically happen days after a filing, but this one was delayed because FTX’s collapse came suddenly and management kept few if any records. Judge John Dorsey did temporarily grant FTX one order that had generated some controversy: redacting the names and addresses of FTX’s client list.

Supreme Court OKs handover of Trump tax returns to Congress

WASHINGTON (AP) — The Supreme Court has cleared the way for the handover of former President Donald Trump’s tax returns to a congressional committee after a three-year legal fight. The Democratic-controlled House Ways and Means Committee had asked for six years of tax returns for Trump and some of his businesses, from 2015 to 2020. The court’s order Tuesday leaves no legal obstacle in the way. The Treasury Department refused to provide the records during Trump’s presidency. But the Biden administration said federal law is clear that the committee has the right to examine any taxpayer’s return, including the president’s. Lower courts agreed, rejecting Trump’s claims that the committee only wanted the documents to make them public.

Investigators: Firm that cleans meat plants employed minors

OMAHA, Neb. (AP) — A Wisconsin company that cleans hundreds of meatpacking plants nationwide is defending itself against allegations that it employed more than two dozen minors working overnight shifts cleaning massive saws and other dangerous equipment. Labor Department officials said in court documents that they believe Packers Sanitation Services Inc. might be employing underage workers at other plants but investigators have only just starting reviewing thousands of pages of employee records at plants besides the ones in Nebraska and Minnesota where they confirmed teenagers were working. A judge already issued a temporary order prohibiting the company from employing minors and interfering in the investigation. The company says it's cooperating and already prohibits hiring anyone younger than 18.

NY gov signs novel law that limits cryptomining, for now

ALBANY, N.Y. (AP) — New York is tapping the brakes on the spread of cryptocurrency mining. Gov. Kathy Hochul signed a first-in-the-nation law Tuesday. The measure sets a two-year pause moratorium on new and renewed air permits for fossil fuel power plants used for energy-intensive “proof-of-work” cryptocurrency mining. That's a term for the computational process that records and secures transactions in bitcoin and similar forms of digital money. Environmentalists said the state was undermining its climate goals by letting cryptomining operations run their own natural gas-burning power plants. Cryptocurrency advocates argued that the measure would crimp New York’s economic development and singled out crypto while not addressing other fossil fuel use.

Asian shares gain after earnings-fueled rally on Wall Street

BANGKOK (AP) — Asian shares have risen after solid earnings pushed retailers higher on Wall Street ahead of the Thanksgiving holiday in the U.S. Benchmarks rose in Hong Kong, Seoul and Sydney but fell in Shanghai. Markets were closed in Japan for a holiday. The Reserve Bank of New Zealand raised its benchmark rate by three-quarters of a point to 4.25%. On Tuesday, the S&P 500 rose 1.4% and the Dow Jones Industrial Average added 1.2%. The Nasdaq composite added 1.4%. Treasury yields slipped. Best Buy soared more than 12% after the Minneapolis-based consumer electronics chain did better than analysts expected and said a decline in sales for the year will not be as bad as it had projected earlier.

Teenage driver charged in crash of stolen car that killed 4

BUFFALO, N.Y. (AP) — A 16-year-old accused of driving a stolen Kia involved in a high-speed crash that killed four passengers is facing charges. The driver, whose name has not been released, appeared in Erie County Court in Buffalo Tuesday on charges of manslaughter, assault and possession of stolen property. He was released under supervision with an ankle monitor.  A total of six teenagers were in the Kia Sportage that crashed on a Buffalo expressway last month. The car had been reported stolen the previous night. Police say the teens may have been participating in a TikTok challenge that encouraged people to steal Kia cars using cellphone chargers.

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The Port of Savannah plans a $410 million overhaul of one of its sprawling terminals to make room for loading and unloading larger ships. The Georgia Ports Authority board approved the project Monday under a plan to expand Savannah's capacity for cargo containers by more than 50% by 2025. It means major changes for the port's Ocean Terminal, which currently handles most of Georgia's breakbulk cargo such as lumber, paper and steel. Those operations will move over the coming year to the nearby Port of Brunswick. Ocean Terminal will be upgraded with new berths and eight ship-to-shore cranes, allowing the complex to focus almost exclusively on cargo shipped in containers.

R.J. Reynolds and other tobacco companies are asking the U.S. Supreme Court to impose an emergency order stopping a California ban on flavored tobacco products from taking effect. The companies filed the request Tuesday. Nearly two-thirds of California voters earlier this month approved of the ban on cotton-candy vaping juice, methanol cigarettes and other products. The state legislature passed the law two years ago but it never took effect after tobacco companies gathered enough signatures to put it on the ballot. Supporters of the ban say the law was necessary to put a stop to a staggering rise in teen smoking.

It's now a lot easier and cheaper for Americans to get hearing aids. The government recently began allowing the sale of hearing aids without a prescription. These over-the-counter hearing aids began hitting the market in October at prices that can be thousands of dollars lower than prescription hearing aids. They are for people with mild-to-moderate hearing problems — not those with more severe hearing loss. The Food and Drug Administration estimates that around 30 million people in the United States deal with hearing loss. Only about 20% of the people who could use a hearing aid seek help.

The Minnesota Board of Pharmacy is suing a Moorhead-based manufacturer of THC-laced gummies, saying the company’s candies contain far stronger doses of the chemical that gives marijuana its high than state law allows. The lawsuit filed Monday alleges that Northland Vapor and its stores in Moorhead and Bemidji are violating Minnesota’s new law allowing low-potency edible and drinkable cannabinoids. It alleges investigators found candies with 20 times the legal dose and packages containing 50 times the limit. The board says it has embargoed the products, which it says have a retail value of over $7 million

Officials say the Oklahoma marijuana farm where four people were killed was operating under an illegally obtained license. The Oklahoma State Bureau of Narcotics says Friday that the license application by Kevin Pham fraudulently stated that the operation was 75% owned by an Oklahoma resident, as required by state law. Pham has been arrested on drug and weapons charges. Court documents do not list an attorney who could speak on his behalf. The man wanted in the Nov. 20 shooting deaths of four people at the farm has been extradited back to the state from Florida. Wu Chen, also known as Chen Wu in jail records, was booked into the Kingfisher County jail on Thursday.

A prosecutor says the former medical director of a Virginia hospital that serves vulnerable children has been charged with four felony sex crimes in connection with abuse at the facility years ago. Court records indicate a grand jury indicted Dr. Daniel Davidow last month. Davidow was the longtime medical director of the Cumberland Hospital for Children and Adolescents. In a separate civil lawsuit, more than three dozen former female patients allege Davidow sexually abused them during physical exams. Davidow has previously denied the allegations. An attorney for Davidow declined comment to The Associated Press Friday.

The German chemical company BASF will restore damaged natural resources at a notorious Superfund site in New Jersey where decades or pollution and illegal dumping caused vast contamination of the environment. The state Department of Environmental Protection says it has a deal with BASF to restore conditions at the former Ciba Geigy plant in Toms River. BASF, based in Ludwigshafen, Germany, is the corporate successor to Ciba Geigy. Cleanup efforts have been ongoing for decades at the site and will continue, even as the environmental restoration work proceeds. Work is expected to begin in the spring and last for five years.

Donald Trump’s company has been convicted of tax fraud for a scheme by top executives to avoid paying personal income taxes on perks such as apartments and luxury cars. As punishment, the Trump Organization could be fined up to $1.6 million. The guilty verdict Tuesday day came on the second day of deliberations in the only criminal trial to arise from the Manhattan district attorney’s three-year investigation of the former president and his businesses. Longtime Trump Organization finance chief Allen Weisselberg previously pleaded guilty to hatching the 15-year scheme. He testified at the trial in exchange for a promised five-month jail sentence. Trump himself was not on trial.

After blazing onto Wall Street by making trading fun for its customers, Robinhood is now setting its sights on a more staid corner of the industry: saving for retirement. The company on Tuesday is opening up signups for a retirement program, where customers can sock savings into an Individual Retirement Account, something better known as an IRA. It’s the first such effort for Robinhood, which is trying to recapture some of its formerly high-flying growth that fell off as painful downturns made day-trading of stocks and crypto much less fun.

New Mexico's governor will have nine candidates to choose from as she fills a powerful regulatory commission overseeing utility rates and charting the state's course toward more renewable energy development. A nominating committee on Friday unanimously voted to forward the finalists' names to Gov. Michelle Lujan Grisham. It capped a monthslong selection process. A constitutional amendment approved in 2020 turns the Public Regulation Commission from a five-member elected body into a three-person panel appointed by the governor. Some critics sought to overturn the change, saying Native American communities in particular would be disenfranchised. The state Supreme Court rejected the challenge with a ruling earlier this week.

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